Sequoia Financial Advisors LLC Acquires New Stake in On Holding AG (NYSE:ONON)

Sequoia Financial Advisors LLC purchased a new stake in shares of On Holding AG (NYSE:ONON) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,382 shares of the company’s stock, valued at approximately $240,000.

A number of other large investors have also added to or reduced their stakes in the company. Capital Advisors Inc. OK raised its position in ON by 3.2% during the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after purchasing an additional 200 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in ON by 2.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after purchasing an additional 259 shares in the last quarter. Atria Investments Inc raised its position in ON by 6.6% during the fourth quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after purchasing an additional 341 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in ON by 3.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 10,708 shares of the company’s stock valued at $586,000 after purchasing an additional 373 shares in the last quarter. Finally, Vista Capital Partners Inc. raised its position in ON by 2.4% during the fourth quarter. Vista Capital Partners Inc. now owns 18,430 shares of the company’s stock valued at $1,009,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Up 1.6 %

Shares of ONON opened at $47.01 on Thursday. The business’s 50 day moving average price is $53.63 and its 200-day moving average price is $52.66. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05. The stock has a market cap of $29.60 billion, a P/E ratio of 109.33, a P/E/G ratio of 1.02 and a beta of 2.35.

Analyst Ratings Changes

ONON has been the topic of several analyst reports. Morgan Stanley lifted their price objective on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Hsbc Global Res upgraded ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. TD Cowen lifted their price objective on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $58.00 to $63.00 in a research note on Thursday, November 21st. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ON has a consensus rating of “Buy” and a consensus target price of $61.90.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.